Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Information on Reportable Segments

Information on the Company’s reportable segments is presented as follows:

For the Period from November 1, 2021 through December 31, 2021 (Successor)	Malls ⁽¹⁾			All Other ⁽²⁾			Total
Revenues ⁽³⁾	$	95,057		$	13,789		$	108,846
Property operating expenses ⁽⁴⁾		(29,801	)		(2,636	)		(32,437	)
Interest expense		(181,300	)		(14,188	)		(195,488	)
Gain (loss) on sales of real estate assets		20			(23	)		(3	)
Other expense		—			(3	)		(3	)
Segment loss	$	(116,024	)	$	(3,061	)		(119,085	)
Depreciation and amortization								(49,504	)
General and administrative expense								(9,175	)
Litigation settlement								118
Interest and other income								510
Gain on deconsolidation								19,126
Reorganization items								(1,403	)
Income tax benefit								5,885
Equity in earnings of unconsolidated affiliates								797
Net loss							$	(152,731	)
Total assets	$	1,961,061		$	984,918		$	2,945,979
Capital expenditures ⁽⁵⁾	$	3,415		$	1,368		$	4,783

For the Period from January 1, 2021 through October 31, 2021 (Predecessor)	Malls ⁽¹⁾			All Other ⁽²⁾			Total
Revenues ⁽³⁾	$	411,280		$	56,749		$	468,029
Property operating expenses ⁽⁴⁾		(143,018	)		(12,991	)		(156,009	)
Interest expense		(70,275	)		(2,140	)		(72,415	)
Gain on sales of real estate assets		6,063			6,124			12,187
Other expense		(65	)		(680	)		(745	)
Segment profit	$	203,985		$	47,062			251,047
Depreciation and amortization								(158,574	)
General and administrative expense								(43,160	)
Litigation settlement								932
Interest and other income								2,055
Gain on deconsolidation								55,131
Reorganization items, net								(435,162	)
Loss on impairment								(146,781	)
Income tax provision								(1,078	)
Equity in losses of unconsolidated affiliates								(10,823	)
Net loss							$	(486,413	)
Capital expenditures ⁽⁵⁾	$	21,662		$	8,862		$	30,524

Year Ended December 31, 2020 (Predecessor)	Malls ⁽¹⁾			All Other ⁽²⁾			Total
Revenues ⁽³⁾	$	520,643		$	55,218		$	575,861
Property operating expenses ⁽⁴⁾		(177,531	)		(10,348	)		(187,879	)
Interest expense		(79,380	)		(121,283	)		(200,663	)
Other expense		—			(953	)		(953	)
Gain (loss) on sales of real estate assets		(25	)		4,721			4,696
Segment profit (loss)	$	263,707		$	(72,645	)		191,062
Depreciation and amortization								(215,030	)
General and administrative expense								(53,425	)
Litigation settlement								7,855
Interest and other income								6,396
Gain on extinguishment of debt								32,521
Reorganization items								(35,977	)
Loss on impairment								(213,358	)
Prepetition charges								(23,883	)
Income tax provision								(16,836	)
Equity in losses of unconsolidated affiliates								(14,854	)
Net loss							$	(335,529	)
Total assets	$	3,702,523		$	741,217		$	4,443,740
Capital expenditures ⁽⁵⁾	$	36,425		$	5,683		$	42,108

Year Ended December 31, 2019 (Predecessor)	Malls ⁽¹⁾			All Other ⁽²⁾			Total
Revenues ⁽³⁾	$	699,698		$	68,998		$	768,696
Property operating expenses ⁽⁴⁾		(216,771	)		(13,881	)		(230,652	)
Interest expense		(86,152	)		(120,109	)		(206,261	)
Other expense		—			(91	)		(91	)
Gain on sales of real estate assets		1,226			15,048			16,274
Segment profit (loss)	$	398,001		$	(50,035	)		347,966
Depreciation and amortization								(257,746	)
General and administrative expense								(64,181	)
Interest and other income								2,764
Litigation settlement								(61,754	)
Gain on extinguishment of debt								71,722
Loss on impairment								(239,521	)
Gain on investment/deconsolidation								67,242
Income tax provision								(3,153	)
Equity in earnings of unconsolidated affiliates								4,940
Net loss							$	(131,721	)
Total assets	$	4,180,515		$	441,831		$	4,622,346
Capital expenditures ⁽⁵⁾	$	130,502		$	11,057		$	141,559

(1)	The Malls category includes malls, lifestyle centers and outlet centers.

(2)	The All Other category includes open-air centers, outparcels, mortgage and other notes receivable, office buildings, self-storage facilities, corporate-level debt and the Management Company.

(3)	Management, development and leasing fees are included in All Other category. See Note 5 for information on the Company’s revenues disaggregated by revenue source for each of the above segments.

(4)	Property operating expenses include property operating, real estate taxes and maintenance and repairs.

(5)

Includes additions to and acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.